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Dogecoin (DOGE): What are its advantages and disadvantages?




If you already know what cryptocurrencies are, the name of dogecoin, but we want to explain what it is, what it is for and how to deal with it, what its advantages and disadvantages are.

The new economy is increasingly digital, and that is where cryptocurrencies began to become popular, and as an imaginative synthesis this one was born that unites in its name “dog” and “coin” (currency in English), making reference to some popular viralized memes on the internet in which a dog made witty comments about current affairs.

But beyond the joke, it must be taken into account that the world capitalization of dogecoin is estimated at 300 million dollars and a volume of transactions that exceeds 17 million dollars. Do you understand now why it is not a joke?

One of the utilities that you can give to this virtual currency is the investment in Forex, (abbreviation of the term English Foreign Exchange), FX or Currency Market, which is a market global and decentralized in which they are negotiated foreign exchange.

Invest in Forex

If the question is how to invest in Forex the answer would have to contain the expression “carefully”. Therefore, https://efxto.com/ can provide you with the most complete overview of the various aspects of the Forex industry. The economic authorities always warn of the volatility of this investment, but at the same time, it has the great attraction of its very high profitability, so it is essential to be well informed or obtain financial advice before making any decision.




The main difference between dogecoin and bitcoin is that the former is convertible in a faster way and transactions are streamlined. In these investments, the difference with the traditional stock market is that it lacks a centralized physical location, and operates like the internet itself, with a kind of nodes that would be a global electronic network of banks, financial institutions and individual operators, all dedicated to buying or sell currencies at extreme speed to maximize profits.

But if you are not yet qualified to enter directly to operate, you can trust the trading platforms or “Brokers”. The first thing will be to open an account that, in this case, could be the one we are talking about, and from there it will be he who takes care of the management to be able to earn money.

Broker

The fact that there is no physical place like in the traditional Stock Exchange does not mean that it is a jungle without laws since each country has its own, but they do exist and brokers and your investments are subject to them, including controls and audits. That is why the advice is to have professionals of recognized solvency in the sector, to avoid surprises.

If you want to start working directly in the financial market, you can start by consolidating your knowledge in fundamental analysis and technical analysis. The first refers to the study of the long-term market, for which it is essential to take into account the macroeconomic keys (GDP, inflation, unemployment rate, bank interest …), while the second prefers to focus more on the statistical question, that is to say, in the tendencies that each currency marks.




TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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